CUSIP Number:
656803616
CUSIP Name:
7 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The North American Precision Series 7 is a flexible premium deferred index annuity with a market value adjustment. The minimum single premium is $25,000 for non-qualified and qualified money. Additional contributions can be made for $25 or more. 10% of the accumulation value may be withdrawn once per year without a withdrawal charge or MVA. Surrender charges are seven years in duration, vary by state, and are waived in the event of annuitization after the fifth policy year, death, or entrance into a nursing home. If the contract is annuitized after the eigth contract year for at least five years, the accumulation value will be credited a 1% annuitization bonus. State variations may apply. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
31 Jul 2023 13:06